The crypto markets are experiencing a current downturn due to the 2022 bear market. It can be tough during these times as investors try to distinguish between desirable and undesirable projects, and which projects will be profitable.
But how do investors know what projects they should acquire and what projects to discard? There are different frameworks crypto investors use to analyze a project and its blockchain for potential. Adopting the right framework will enable investors to make the right choices when investing.
The crypto space is full of many projects that spring up daily. Three crypto projects you should be watching are Algorand (ALGO), Stellar (XLM), and Parody Coin (PARO).
These projects have a unique approach to the problems they are solving and are set to change the crypto space. Here is a summary of these three projects.
Algorand (ALGO)
Algorand (ALGO) is a self-sustaining decentralized blockchain built to be secure, scalable, and efficient. The mainnet went live in 2019 and has been delivering on its promise of low costs, high scalability, and low latency.
The project had an ICO in 2019 where it raised money from its community using its ALGO token. The real-world applications of the blockchain are enormous as it guarantees to build new forms of trust during transactions.
With the ability to perform 1million transactions per day, it is apparent that the project is on the trajectory for success.
Algorand (ALGO) has built a bridge to the EVM making it fully compatible with the Ethereum (ETH) blockchain. In addition, it hopes to become a top layer in the DeFi ecosystem by attracting liquidity and allowing users to transact cheaply.
The blockchain runs a permissionless Proof of Stake which makes its transactions faster and cheaper when compared with most L1 (Layer One) blockchains.
As a blockchain dedicated to solving real-world problems, it is apparent that Algorand (ALGO) is a solid project that would survive the bear market.
Stellar (XLM)
Stellar (XLM) is a peer-to-peer decentralized network connecting legacy financial systems to crypto. The project was designed to move financial assets quickly and with as little friction as possible.
Using its XLM token, Stellar works seamlessly facilitating transactions of different volumes. Since launching in 2015, the project has changed the way users moved money through its distributed ledger tech.
In addition, Stellar (XLM) has a decentralized marketplace for users to buy and sell assets and has a built-in order book that keeps the markets functional.
The Stellar (XLM) project is open source and controlled by its community. It supports multi-currency transactions and offers its users stable speed and low transactions. When a user wants to swap currencies, it first converts to the XLM token before converting to the other final currency to minimize slippage.
Stellar (XLM) is therefore a project to watch.
Parody Coin (PARO)
Parody Coin (PARO) is a DeFi protocol that allows fast and seamless asset swapping. Its PARO token is deflationary and the project is built on the Binance Smart Chain (BNB).
It is a community-based project that is designed to put control in the hands of its users. The PARO token will generate staking rewards while the rewards system would generate earnings in other tokens staked.
PARO Swap is a multi-chain swap of the Parody Coin (PARO) network that would source liquidity from various blockchains. Furthermore, it would ensure that investors can freely move their money without any hassle.
The Parody Coin (PARO) project was designed to bring a new paradigm to the DeFi space by allowing its users to acquire liquidity without being restricted to a particular blockchain.
If you want to be a part of this wonderful project, join the presale now.
Here are the official links and website.
Join Presale: https://presale.parodycoin.io/register
Website: https://parodycoin.io/
Telegram: https://t.me/PARODYCOIN_OFFICIAL
Twitter: https://twitter.com/ParodyCoin